Austin, TX Real Estate Insights

Austin is undoubtedly one of the trendiest, up and coming cities for millennials. But it's also a great city for homebuyers and renters of all ages to relocate due to a strong real estate market, declining unemployment rate, citywide green initiatives and an abundance of outdoor activities. Although young people are flocking to Austin, the median age of residents is 34 years old, which is slightly below the average of 37 years old for many major U.S. cities. The median income is high at $55,919, which speaks to the steady job market and economic growth in Austin at the moment. Given Austin is a green city, the canopy percentage is 31.83 percent, which is much higher than the national average of 10.84 percent. Trulia ranks active lifestyles, arts, nightlife, restaurants and cafes a 6 out of 6 tiers across the board in Austin, making it not just a great city financially, but socially and culturally, as well.

In terms of homeownership, the median age of Austin homeowners is young at 33 years old. While this is over 10 years younger than the national homeowner average of 45.8 years old, and list prices last year great 12.01 percent year-over-year to reach $510,215, high income levels might be helping young people invest in property at an earlier age.